6 financial preparation tips for motherhood

Are you pregnant or wanting to have a child? Learn how to financially prepare at  

Today, September 9, we celebrate World Pregnant Day and, as such, child financial educator Cristina Judas shared with Notícias ao Minuto six financial preparation tips for motherhood.

Preparing life to have a child and going through the entire pregnancy phase can be an intense process, especially with a financial impact.

According to the same source, it is important to "start financial education even during pregnancy", ensuring a solid foundation for the future.

Therefore, the educator suggests that parents develop an abundance mindset, a "mental attitude that values prosperity, gratitude, and vision of opportunities", as it is "a fundamental process to cultivate a positive relationship with money from an early age". "Before the baby is born, it is vital that parents develop a balanced and healthy financial mindset", she explains.

Planning should be seen as a "shared responsibility that ensures financial stability and peace of mind for the family". "Start by recording all family expenses and income, and carefully examine these expenses in order to identify which ones can be renegotiated, which can be reduced, and how it is possible to increase the family's available income," explains Cristina Judas.

By applying principles such as planning, price comparison, and prioritization of needs, future parents learn to face not only the financial challenges of motherhood but also to develop a resilient mindset that will benefit the entire family over the years," she adds.    

After the initial phase, it is necessary to think about the future of the child. A nest egg should be created, being "essential to consider some important questions such as the time horizon of the investment and the degree of risk they are willing to take".

The educator also recalls that children learn by example, so it is "essential that adults provide a healthy financial environment, where values ​​such as planning, moderation, and responsibility are evident in actions and words".

Finally, according to Notícias ao Minuto, the educator points out that one must remember that they are doing their best: "Motherhood is challenging, but it is important not to forget to take care of yourself. Remember that financially educating children is an ongoing process, and that parents also need support and space to grow on this journey."

Adjust the monthly budget to prepare yourself.

This stage of life may involve more adjustments to the monthly budget, so it may be important to review the various current charges. If you have a mortgage, you may be paying more than you can afford, when you could renegotiate the current conditions with your bank or transfer the loan to another bank in order to obtain better conditions with a lower monthly installment.

In addition, in case of having several credits, it is possible to obtain a credit consolidation and combine them all into one, with a single monthly installment and a lower total amount.

Get in touch with a Poupança no Minuto agent if you want to proceed with any of these processes, all the help from our credit intermediation is free.